Case Study - Corporate Bank Innovation Department

Innovation hubs are springing up left right and centre in large corporations as the heat in the competitive landscape is getting hotter. Large corporations know they need to stay competitive to remain on the market. Due to technology becoming so cheap and readily available, small startups are able to cater to customers much better then large un-oiled trains running along a straight track to hell.

Innovation hubs have become the solution for companies. Developing their own projects, smaller companies, spins offs, or making accelerator programs where they work with external startups. Innovation hubs are also doing great, they are learning more and more what it takes to become customer centric and are trying to push this throughout the organization. Key word: trying. It’s extremely hard to push a mindset and a culture into an organization just one from central spot, especially when there is no way to integrate all the employees with the development of it’s processes – which essentially is there to keep the company competitive.

This is exactly where Shout has been able to help. As a one-to-many video communication platform, we have had innovation hubs implement Shout as their main means to communicate with their team and the rest of the companies employees. By implementing Shout innovation departments are able to extract knowledge from all their colleagues; process understanding, client relationships, client demands, etc. They are able to collect all their colleagues ideas, making every employee feel more valuable AND bringing new ideas to life that may never have been thought of. Lastly when departments develop prototypes they are able to send them directly to all the colleagues to view, test and give their feedback.

Developing such a communication channel is not only satisfying for the employees as they feel empowered to their ideas, it also helps the company dramatically by making more money and saving more money. How do companies make more money? Simple. You are able to discover problems, issues and solutions which your employees see everyday. You tap into your dedicated employees true potential and collect all they have to offer back to one place. How do you save money? Simple. You spend less of your marketing budget on paying expensive overrated market research agencies. You do it yourself.

And, as a added bonus – you enhance your company culture. Something that is invaluable in $ (dollar signs)

ABOUT YELLOH

Our aim at Yelloh is to bring you and your customers as close as possible. You need to understand your customers in a humane way – that’s why we built a video feedback tool for you to really hear your customers.